ANALYSIS: Turkey Cold Storage Decline Continues with 27.8% Drop in October Amid Tightening Supplies
Total turkey cold storage fell -27.8% month-over-month (MoM), continuing the downward momentum in the volume of turkey in warehouses. While following an average trendline, total frozen inventories of turkey have gradually moved from the thirteenth lowest value ever recorded for the month of January to the third lowest in October. In fact, market input suggests that some storage facilities are holding well below 50% of capacity. While this is likely not the case for all facilities since October’s total is...
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